(rhetorical question) Then why doesn't the government negotiate a new company to handle this? I mean, the Fed Govt has made almost every department fight for their jobs. They have to find their own money, which means they have to compete with other agencies. Plus, every contract awarded has to compete against other companies and it's the lowest bidder who usually wins. Why not the Federal Reserve?
After the disaster of the Revolution’s printed money, it was written that the only money creating powers the Federal government could have is ‘to mint coins’. So, it is unconstitutional for the Federal government to print money. So, they set up, or ‘chartered’ a private company, now called ‘The Federal Reserve’.
We used to have State, state government, banks. I believe the only one still is North Dakota. And we had private banks which printed their own money. In short we had decentralized, compartmentalized, money printing at the State level and responsible to local conditions.
This was/is annoying to the Federal government and large economic interests, hence the creation of the Federal Reserve.
It is really about centralized elite money, power. Everything else is details and what you or I or we might like is immaterial to them. We are digits, resources, faceless.